According to a report, GameStop is planning to shut down several hundred of its U.S. stores

GameStop, a prominent retailer, is reportedly shutting down many of its U.S. locations.

Social media posts, highlighted by Polygon, indicate closures of stores nationwide. A blog named GS Closing has documented 390 closed stores, with an additional 10 closures yet to be confirmed.

There are also claims, mentioned by RNZ, that GameStop plans to shutter its EB Games outlets in New Zealand. EB Games' managing director Shane Stockwell reportedly informed employees via email that the proposal is not final pending a detailed consultation with the staff involved.

According to GameStop's 10-K report for the fiscal year ending February 2025, there are currently 38 GameStop stores in New Zealand.

In the same report, it was stated that the company closed 590 stores in the U.S. during the 2024 fiscal year and plans to shutter many more in 2025.

These closures extend beyond the U.S. and New Zealand.

In recent times, GameStop has ended its operations in countries such as Ireland, Switzerland, Austria, and Germany. It has also sold its Italian branch and is seeking buyers for its French and Canadian divisions.

Despite these extensive closures, GameStop has launched a performance award for CEO Ryan Cohen valued at $35 billion.

This award is contingent upon Cohen's success in raising GameStop's market valuation to $100 billion. Currently, the company is valued at $9.52 billion. During the peak of the r/wallstreetbets short squeeze in January 2021, GameStop's market cap hit $33.7 billion.

Between the 2023 and 2024 fiscal years, GameStop experienced a 27.5% decline in net sales, dropping to $3.8 billion. Hardware and accessories sales fell by 29.9%, software sales by 33.9%, and collectible sales by 4.8%.